Burglary Insurance to Protect Your Business from Theft and Break-Ins
Burglary Insurance
Every 3 minutes, there is a break-in, robbery or burglary in India, and the rate is only going up. In 2022, crime against property, particularly burglaries, were reported to be 128,921, making it a serious threat to business owners. Moreover, one burglary incident can impact years of your hard work, resulting in financial loss and business downtime.
Thus, burglary insurance is not just an option; it is a necessity. With TATA AIG’s combined burglary and fire insurance plans, you can secure your thriving business against unexpected financial losses and ensure a safety net regardless of its size.
What is Burglary Insurance
Burglary insurance is a type of property insurance that protects your business from losses or damages caused by forceful entry or theft into your office, factory, warehouse, etc. It extends its coverage to damage caused to assets like furnishings, fixtures, machinery, equipment and more, due to a burglary/theft.
It protects against losses or damages caused by:
Theft of valuable belongings from the workplace due to breaking and entering.
Damage to interiors caused by theft attempts.
Robbery involving harm to employees and theft using weapons.
However, it is important to note that burglary and theft insurance work differently since burglary and theft are defined as different types of incidents.
Theft is taking a property or a valuable from you, regardless of a forced entry or using force. Whereas, burglary means forceful breaking and entering into a workplace, causing damage to property and stealing valuables.
Typically, theft (caused without forceful entry) is excluded from burglary insurance. However, with TATA AIG, you can extend your coverage to loss or damage caused by theft by purchasing the optional add-on at an additional premium cost.
How Does Burglary Insurance Work?
Burglary insurance policy is a legal contract between you, the policyholder and us, the insurance provider. Once you purchase the policy and pay the premiums, we offer protection against your property and asset loss or damage caused by theft or burglary. Here is how the policy works:
If burglary occurs at the insured property, you can file a claim with us.
Make sure that you file an FIR and submit the required documents.
We will investigate the claim and proceed with the claim settlement per your policy terms.
Also Read: Who is the Insurer and Insured? You Need to Know
Here is an example of how burglary insurance works in case of a loss incurred due to forced entry and theft:
Burglary Insurance Case Study
In 2004, Zaveri Bazaar was burgled and suffered a huge financial loss due to the theft of goods worth ₹27 lakhs. However, the shopowner had a burglary policy to protect the business from such incidents. He then filed an FIR and a claim to recover from the loss.
The insurance company appointed a surveyor and an investigator to verify the incidents and the claim request. Upon further investigation by the National Consumer Disputes Redressal Commission, Zaveri Bazaar received the claim amount of ₹27 lakhs along with 9% interest.
Why Do You Need Burglary Insurance?
Property losses are a huge expense to bear, especially with rising risks of thefts and break-ins. With burglary insurance you can secure coverage for all property types, including office spaces, independent shops, chain stores, etc.
- Rising Crime Rate in India
According to the NCRB, burglary cases have been increasing, with 1 lakh+ cases being reported in 2022. This highlights the constant threat and need for all-around protection.
- Protects Your High-Value Assets
Ensures that valuable possessions like electronics, machinery, raw or finished goods and essential business equipment are financially protected against theft.
- Uninterrupted Business Continuity
Provides financial support to replace stolen inventory or equipment and repair the damage to the structure. This minimises downtime and maintains continuity.
- Quick Damage Recovery
Enables quick compensation for losses, helping business owners to recover and resume normal operations without disruptions or pauses in day-to-day activities.
- Coverage for Property Damage
If someone breaks into your office and causes damages to locks, windows or doors, the resulting financial loss can be covered with a burglary insurance policy.
Types of Burglary Insurance Plans
Burglary insurance plans in India are designed to cater to various coverage needs and business types. They are primarily classified into three categories based on the coverage they offer:
Full Value Insurance: This offers coverage which is equal to the total cost of your property, ensuring complete protection for your workplace.
First Loss Insurance: Provides partial or fixed coverage amount, which is less than the total cost of your property, for the loss or damage. The plan is cost-effective for properties in areas with low crime rates.
Stock Declaration Insurance: This plan is designed for businesses with unstable inventory or materials, which allows you to adjust policy coverage based on the stock declarations.
Also Read: Understanding Burglary Insurance & First Loss Policy
TATA AIG Burglary Insurance Plans
At TATA AIG, we offer a wide range of burglary insurance plans, offering specified coverage against burglary incidents or combined coverage against fire, burglary and other related perils.
Types of Burglary Insurance Policy | Key Features |
---|---|
TATA AIG Burglary Insurance | ● Specified coverage for loss or damage caused by burglaries. ● Provides clear terms and affordable coverage against necessary perils. |
Business Guard Laghu Package | ● Tailored for businesses with assets valued between ₹5 Crore and ₹50 Crore. ● Covers burglary-related damages, including the repair/replacement of locks and keys. ● Offers protection against forcible entry, theft and break-in damages. ● Includes coverage for stock, furniture and other business assets. |
Business Guard Sookshma Package | ● Designed for smaller enterprises with goods’ worth not exceeding ₹5 Crore. ● Includes comprehensive burglary protection for premises and contents. ● Provides coverage for cash stored in safes or strong rooms under money insurance. ● Cost-effective cover for small businesses. |
Business Guard Package | ● Suited for medium to large businesses with varied asset coverage requirements. ● Covers damages due to burglary, theft or attempted break-ins. ● Protection for high-value business items, including machinery and stock. ● Includes public liability cover for protection against third-party damages. |
Business Guard Udyam Package | ● Offers wide coverage under one policy, including home, fire, burglary and liability insurance. ● Offers broad coverage, including theft during riots or strikes. ● Covers damages to your workplace and belongings due to burglary. ● Includes options for additional risks and specialised coverage needs. |
Key Features of Burglary Insurance by TATA AIG
Wide Coverage | Coverage for Safety Features |
---|---|
We offer full or partial coverage for your plant, machinery, furniture, fittings, stocks and high-value precious stones. | Our policy offers coverage of up to 5% of the claim amount for repairing or replacing locks and keys of safes or strong rooms. |
Affordable Premiums | Digital Claims Processes |
Our fire and burglary insurance plans start at just ₹ , ensuring cost efficiency for all types of businesses, regardless of their size. | Our all-digital process allows you to buy and claim your insurance using our website or apps with minimal paperwork. |
Coverage for Assets | Theft Coverage |
Receive coverage for assets and equipment based on your policy details for up to 5% of the Sum Insured. | While theft with a forceful entry is covered under the burglary insurance plan, with TATA AIG, you can get coverage against theft without forced entry by opting for a theft add-on. |
Who Can Avail Burglary Insurance?
Small Businesses: Businesses, such as local grocery stores and supermarkets, small offices or standalone shops where the total worth of their assets in one location is up to ₹5 Crores can buy our Business Guard Sookshma Policy.
Large and Medium Business Organisations: Large and medium businesses with their assets’ worth is between ₹5 crores and ₹50 crores need more coverage. This includes warehouses, manufacturing units, hospitals, educational institutes, malls, restaurant chains, etc.
Advantages of Burglary Insurance
Flexibility: Our insurance allows you to adjust coverage according to your requirements. If you own a large business, you can opt for full value insurance. Otherwise, you can opt for a first-loss basis cover and pay a relatively lower policy premium.
Extensive Eligibility: Burglary insurance coverage is not limited to a few categories of insurance buyers. With our insurance, you can protect your shop, boutique, salon, factory, etc.
Inventory Loss: Insure your inventory or stock within your workplace with burglary insurance without buying a cover for the entire property. This includes raw materials, finished goods or in-process stock.
Value for Money: It safeguards your property and valuables against burglary and burglary attempts. Since it comes with fire insurance, you also get coverage against unexpected fire and related perils.
Burglary Insurance Coverage: Inclusions
Burglary Policy Coverage | Details |
---|---|
Loss or Damage to Contents | Covers loss or damage to contents caused by burglary, housebreaking, or hold-up. |
Premises Damage | Covers damage to the insured premises caused during burglary, housebreaking, or hold-up. |
Repair/Replacement of Locks & Keys | Covers costs for repairing/replacing locks and keys of safes and strong rooms. |
Damage to Cables, Pipes, and Tanks | Covers repair costs for underground cables, pipes and overhead tanks. |
Newly Acquired Assets | Covers loss/damage to newly bought assets (excluding stocks), subject to 5% of the sum insured. |
Valuation of Items | Plant, Machinery, Fixtures, Furniture, Contents: Replacement/Reinstatement value. - Stocks: Raw materials (landed cost), stock in process (input cost), finished stock (manufacturing cost).A12 |
Bullion, Precious Items, and Artwork | Covered on an agreed-value basis with an accepted valuation certificate. |
Disclaimer: Kindly note that the list of inclusions may vary per the policy terms. Kindly refer to the policy document to know the exact coverage under your plan.
Burglary Insurance Coverage: Exclusions
Burglary Policy Coverage | Details |
---|---|
Valuables | Gold or silver articles, watches, jewellery, precious stones, medals, coins, curios, sculptures, manuscripts, etc. - unless specifically mentioned or included in the policy. |
Documents | Deeds, bonds, bills of exchange, promissory notes, money or securities for money, stamps, books of accounts, etc. |
Fire | Loss of damage by fire, however, caused. |
Insured Person’s Employee, Inmate, or Member | Claims for damages and losses where you, your employees, group members, or inmates are involved in the theft will not be admissible. |
Natural Disasters | Losses and damages due to earthquakes, volcanic eruptions, typhoon hurricanes, tornados, cyclones, etc. |
Losses Due to Negligence/Deception | Losses due to errors, omissions, deception, or voluntary transfer of property ownership or possession. |
Loss From Loot | Seizing and carrying away property by force or violent means. |
Loss From Ransack (Raid through violent means) | Loss or damage to the property while searching through or examining the premises through violent/careless means. |
Loss From Spillage | Flow, movement, fall or spread of contents over the edge of or outside the container/premises. |
Loss From Pilferage | Theft of contents in small quantities by an authorised person on the insured premises. |
Thefts and Attempted Theft | Theft from yards, gardens, open spaces or outbuildings unless specifically insured under the policy. |
Permanent or Temporary Removal | Permanent or temporary removal of possession due to confiscation, seizing or demand by legal bodies. |
Inoccupation of Premises | If the premises/insured property has been left unattended for 30 or more consecutive days and nights. |
Modifications to the Premises | Any modifications that can increase the risk of burglary on the premises/insured property. |
Property Removed from Premises | Coverage does not apply to items removed from the insured premises unless specifically listed in the policy. |
Transfer of Ownership | If the insured's interest in the property is transferred, unless approved by the insurer and noted in the policy. |
Terrorism and War | Damage caused due to terrorism and war, riot, invasion, rebellion, etc. |
Fraudulent Claims | Claims raised in a fraudulent manner or supported by fraudulent statements. |
Disclaimer: Kindly note that the list of exclusions may vary per the policy terms. Kindly refer to the policy document to know the exact terms and conditions of your plan.
How to Choose the Right Burglary Insurance?
Evaluate Coverage Needs: To select suitable coverage, determine the total value of assets, including stock, equipment and cash.
Understand Policy Inclusions and Exclusions: Read the policy details carefully to know what is covered and excluded, ensuring it meets your requirements.
Compare Policies: Review and compare our multiple policies for premium rates, coverage limits and added features.
Customise Coverage: Opt for optional add-ons such as theft cover to tailor the policy to your needs.
Assess Risks: Consider specific threats to your business, like location-based crime rates or high-value inventory.
Opt for Adequate Sum Insured: Ensure the sum insured or total coverage limit matches the value of your assets to avoid underinsurance.
Understand Premium Calculation: To find the most cost-effective plan, use a premium calculator and understand the factors influencing it.
Selecting the right burglary insurance policy ensures your assets are adequately protected against potential theft or burglary incidents.
Also Read: Theft Insurance
How to Buy Burglary Insurance Online?
Visit Our Website: Go to the official TATA AIG website and click on Fire & Burglary Insurance under the Business tab.
Choose a Plan: Select a plan and add-ons that best suits your coverage, business and budget needs.
Fill in Your Details: Enter essential information, such as mobile number, business type, location and assets.
Make Payment: Complete the payment online using your preferred mode and receive the policy document instantly via email.
How to Calculate Burglary Insurance Premium?
Calculating a burglary insurance premium is simple. The premium is determined using this formula:
Premium = (Sum Insured × Risk Factor)/ Coverage Period + Add-on Costs (if applicable)
You can easily determine the estimated premium price of your burglary insurance premium using our online burglary insurance premium calculator. Simply input your business type and required sum insured, choose a plan and add-on, if required and receive a quote instantly.
Factors Affecting the Burglary Insurance Policy Premium
It is important to note that several factors influence burglary insurance premium rates, and understanding how they affect prices can help you choose the best plan.
Choice of Plan: TATA AIG offers different plans for businesses of different sizes. Thus, your premium will vary depending on the type of coverage you choose.
Location: If your business is located in a theft-prone area, your premium will be higher than usual due to high risk and coverage needs.
Add-Ons: Opting for add-ons, such as our theft cover with burglary insurance, provides you with additional coverage but also adds to the premium.
Value of Insured Assets: The higher the value of your assets, such as jewellery or precious stones, the higher the premium to replace them after burglary.
Tips to Reduce Your Burglary Insurance Premium
Install safety devices, such as alarms, in your office that notify you if there is an attempt of forced entry or any other similar illegal activity on the premises.
Install CCTV cameras at all entry points and other sensitive or weak areas on the premises to discourage intruders from entering the property.
Moreover, in case of an incident, you have sufficient recorded evidence from the CCTV recordings to file a claim.
Have a strong fence or boundary wall around the premises to prevent burglars from entering and reduce the risk of theft.
Avoid letting strangers know about when your property will be unoccupied.
Secure your valuables in an advanced safe, locker or strong room. Also, ensure the keys to your safes are safely stored.
Choose the right amount of deductibles, as it will help reduce your policy premium. However, note that high deductibles increase your out-of-pocket claim amount.
Keep an updated record of your valuables and properties and provide us with the correct information and value of your properties when purchasing the policy.
How to File a Burglary Insurance Claim?
Notify us of the incident within 30 days via email (general.claims@tataaig.com)). Alternatively, you can register your claim through the TATA AIG website.
Notify the respective local authorities, such as the local police and file the necessary legal documents.
Fill out the claims form and upload any necessary documents, including KYC documents and proof of the incident.
Cooperate with our representatives to gather evidence and inspect your property damage and claim.
Based on all the details, we will reimburse you the claim amount to your bank account, excluding deductibles and uninsured items.
Documents Required for Filing a Burglary Insurance Claim
Duly filled and signed burglary insurance claim form.
Copy of FIR of the burglary.
A copy of the authorised burglary insurance policy, including the policy schedule and clauses.
Sufficient proof of occurrence of the insured event in the form of photographs.
Any other supporting information and documents that may help with the claim settlement process.
Burglary Insurance vs Fire Insurance Differences Explained
Parameters | Burglary Insurance | Fire Insurance |
---|---|---|
Definition | This insurance provides coverage for losses incurred due to illegal burglary or attempted burglary. | Fire insurance offers coverage for losses caused by fire and related risks such as lightning. |
Inclusions | It covers repair or replacement costs for structural damages, locks, keys and goods. | It includes fire damage caused by bushfires, lightning, natural disasters, explosions/implosions, etc. |
Theft Cover | This does not include loss or damage due to theft unless you buy the add-on. | Loss or damage due to theft caused by an event included in the policy is covered. |
Example | A burglar breaks a window and enters a shop to steal goods. | Lightning strikes an electronic store, resulting in a huge fire and subsequent damage. |
TATA AIG offers combined coverage with Fire and Burglary Insurance to provide comprehensive coverage for both incidents.
Also Read: What is the Difference Between Theft and Burglary Insurance?
Disclaimer / TnC
Your policy is subjected to terms and conditions & inclusions and exclusions mentioned in your policy wording. Please go through the documents carefully.
Frequently Asked Questions

